On June 11, Zhipu (02513.HK) rose 3.72% in regular trading, trading at HKD 1,067.0 per share, with trading volume of HKD 287 million.

The rebound comes after severe selling pressure that drove the stock down nearly 50% from its all-time high of HKD 1,993 reached on May 29. The stock had accumulated a decline exceeding 20% over just two trading days following its inclusion in the Hang Seng Tech Index and Stock Connect, creating pronounced short-term oversold conditions. Short-term capital has stepped in at lower levels to drive the technical recovery.

Fundamentally, Zhipu recently announced plans to pursue a secondary listing on the SSE STAR Market, aiming to raise approximately RMB 15 billion for AI foundation model development and its MaaS platform. The company reported revenue of RMB 724 million for 2025, up 132% year-over-year, while R&D spending reached RMB 3.18 billion. Its MaaS platform annual recurring revenue reached approximately RMB 1.7 billion, with gross margin improving to 41%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)